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Monday, April 03, 2006 9:35:51 PM
No. As I explained, the NSS suits have gone very badly for the plaintiffs so far. Lawyers only work on contingency when they're very sure they'll win. O'Quinn miscalculated. I think initially he didn't understand the difference between naked shorting and shorting against toxic paper.
And then his first and highest-profile client, Gary Valinoti of Jag Notes, got slammed by the SEC bigtime, and now owes millions in fines.
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